Second Stimulus Package: Negotiations Continue In Congress
The second stimulus proposal from the Senate Republicans, the HEALS Act, includes multiple smaller pieces of legislation. These components would provide another round of direct stimulus payments to Americans, extend unemployment benefits, freeze Medicare premiums, offer more PPP funding, and extend liability shields for businesses facing COVID-19-related lawsuits. The House released its second stimulus proposal, the HEROES Act, in May.
Supporting Microbusinesses in Underserved Communities During the COVID-19 Recovery
In Detroit, collaborations between public, private, nonprofit, and philanthropic leaders quickly listened to business owners, innovating and implementing strategies to ensure the most vulnerable businesses could address their specific needs that resulted from social distancing orders. The strategies outlined below could have potential applications for many underserved communities in cities across the United States.
Depleted Tax Coffers Could Cause Shift in Incentive Policy
In this new environment of reduced tax revenues, impacts on incentives must be considered. While the country battles the coronavirus, state and local governments will be squeezed financially - just like so many businesses and households. Economic development organizations will have to respond by carefully managing - and better justifying - their incentive and financing programs.
White House Examining Taking Unilateral Action If Congress Can't Reach Deal
Democrats passed a $3 trillion package in May that included an extension of unemployment benefits, new stimulus checks, aid for states and localities, but negotiations have gotten bogged down in the Senate. The White House is now considering taking unilateral action if the Senate is unable to reach a deal.
Brookings Institute Releases Infrastructure Stimulus Plan for the COVID-19 Recession
This Brookings Institute brief uses historical data and the earliest indicators from the COVID-19 downturn to make the case for a people-first approach to federal infrastructure stimulus. The total cost of these programs would range
from $167 billion to $327 billion.
Coronavirus Relief Talks Stuck on Scope of Aid
Negotiations on a coronavirus relief bill have yet to enter the policy give-and-take stage as Republicans remain focused on a short-term measure that Democrats say is worthless and delaying progress toward a much-needed broader aid package.
What You Need to Know About the Federal Reserve's Main Street Lending Program
In response to the financial strain on small businesses resulting from the COVID-19 crisis, the Federal Reserve has introduced the Main Street Lending Program (MSLP). The purpose of this lending program is to provide the availability of credit to "help companies that were in sound financial condition before the onset of the COVID-19 pandemic maintain their operations and payroll until conditions normalize."
EXIM Approves $97.2M Working Capital Loan Guarantee for "Made in the USA" Aircraft Exports, 800 Jobs
The Export-Import Bank of the United States Board of Directors, in another application of EXIM's COVID-19 economic recovery measures to support U.S. businesses and American jobs during the global pandemic, today unanimously approved a $97.2 million working capital guarantee that will support approximately $211.4 million in export sales and an estimated 800 U.S. jobs.